Scotiabank Lowers Armada Hoffler Properties (NYSE:AHRT) Price Target to $7.00

Key Points

• Scotiabank cut its price target on Armada Hoffler Properties to $7.00 (from $7.50) and rates the stock "sector perform," implying about a 23.4% upside from the current price.
• Analyst opinions are mixed — the MarketBeat consensus is a "Hold" with a $7.70 average target, while individual ratings range from Strong Buy to Sell and price targets span roughly $7.50 to $9.00 (and lower by some firms).
• A company director bought 10,000 shares at $6.19 (a ~34.9% increase in his stake), insiders own 11.9% of the stock, and institutional investors hold about 66.35%.

Armada Hoffler Properties (NYSE:AHRT - Get Free Report) had its price target dropped by analysts at Scotiabank from $7.50 to $7.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target suggests a potential upside of 23.44% from the company's current price.

Several other research firms have also recently issued reports on AHRT. UBS Group set a $7.50 price objective on Armada Hoffler Properties in a report on Wednesday, January 14th. Zacks Research lowered Armada Hoffler Properties from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Stifel Nicolaus lowered their price target on shares of Armada Hoffler Properties from $10.50 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Armada Hoffler Properties in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Armada Hoffler Properties has an average rating of "Hold" and a consensus target price of $7.70.

Armada Hoffler Properties Trading Up 0.7%

Armada Hoffler Properties stock opened at $5.67 on Tuesday. Armada Hoffler Properties has a 52 week low of $5.47 and a 52 week high of $7.98. The stock has a 50-day moving average price of $6.59 and a 200 day moving average price of $6.70. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $587.94 million, a price-to-earnings ratio of -71.06 and a beta of 1.03.

Insiders Place Their Bets

In other news, Director Frederick Blair Wimbush bought 10,000 shares of Armada Hoffler Properties stock in a transaction that occurred on Tuesday, March 3rd. The shares were purchased at an average price of $6.19 per share, with a total value of $61,900.00. Following the completion of the acquisition, the director directly owned 38,685 shares in the company, valued at $239,460.15. The trade was a 34.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Armada Hoffler Properties

A number of large investors have recently modified their holdings of the company. Hantz Financial Services Inc. raised its holdings in shares of Armada Hoffler Properties by 99.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 6,367 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 3,173 shares in the last quarter. Danske Bank A S acquired a new position in shares of Armada Hoffler Properties during the fourth quarter worth $45,000. Tower Research Capital LLC TRC increased its holdings in Armada Hoffler Properties by 172.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,919 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 5,015 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Armada Hoffler Properties during the 4th quarter worth about $68,000. Finally, RPO LLC acquired a new position in shares of Armada Hoffler Properties during the 4th quarter worth about $68,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

About Armada Hoffler Properties

Armada Hoffler Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of retail, office and mixed-use properties. The company’s portfolio primarily comprises neighborhood and community shopping centers, urban infill retail sites and select office buildings located in high-growth markets. Armada Hoffler also provides in-house property management and leasing services, leveraging its vertically integrated platform to enhance asset value and tenant satisfaction.

Founded on a legacy of commercial real estate development dating back to the 1970s, Armada Hoffler went public in 2016 through a strategic combination of private real estate entities.

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